board resolution

CERTIFIED TRUE COPY OF THE RESOLUTION PASSED AT THE MEETING OF THE BOARD OF DIRECTORS OF   PRIVATE LIMITED HELD AT THE REGISTERED OFFICE OF THE COMPANY  AT ........AT 10 PM.

The chairman informed the board that a proposal to open a current Account with the -------------Bank for conducting its day-to-day financial transactions. After discussions, the Board unanimously passed the following resolution: 

“RESOLVED THAT Current Account in the name & style of “............PRIVATE LIMITED” be opened with the......... Bank, .for the operations of the activities of the Company and that the following Authorized Signatory of the Company be and are hereby authorized to open and operate the said account:

1. Director Name and Designation

“RESOLVED THAT Mr. ..........(Director Name and Designation) prescribed above shall be authorized to operate the said account”

RESOLVED FURTHER that the aforesaid bank be and is hereby instructed to honour all cheques, promissory notes and other orders drawn by and all bills accepted on behalf of the company whether such account be in credit or overdrawn and to accept and credit to the account of the company all moneys deposited with or owing by the bank or any account or accounts at any time or times kept or to be kept in the name of the company and the amount of all cheques, notes, bills, other negotiable instruments, orders or receipt provided they are endorsed/ signed  by the said person on behalf of the company and such signature shall be sufficient authority to bind the company in all transactions between the bank and the company  including those specifically referred to herein.”

“RESOLVED FURTHER THAT the aforesaid power entrusted to the said official shall be valid and effective unless revoked earlier by the Board or shall be exercisable by him so long as he is in the concerned to the Company.”

 “RESOLVED FURTHER THAT a certified copy of the resolution be given to anyone concerned or interested in the matter.”

TRUE COPY

For .............. PRIVATE LIMITED

“RESOLVED THAT in suppression of all earlier resolutions passed at the Board Meetings of the Company, the following Executives / Officers / Employees of the Company be and are hereby authorised for Bank operation.”

“RESOLVED FURTHER THAT in relation to the account of the Company maintained with and / or the Company’s dealing with ………………………… Bank, ………………………Branch, the said Bank be and is hereby authorised to honour all Cheques, Bill of Exchanges, Promissory Notes, or other orders for payment drawn, accepted or made by Shri …………………….. Director of the Company acting on behalf of the Company without any limit.”

“RESOLVED FURTHER THAT in relation to the account of the Company maintained with and \ or the Company’s dealing with ………………………… Bank, ……………………….. Branch, the said Bank be and is hereby authorised to honour all Cheques, Bill of Exchanges, Promissory Notes, or other orders for payment drawn, accepted or made to the extent of Rs. …………./-(Rupees ………………………….Only) per individual instrument signed on behalf of the Company jointly by any two of Shri ……………………………….. Director, Shri………………………………… and Shri ……………………………… and to act upon any instructions given relating to any transactions of the Company.”

“RESOLVED FURTHER THAT a certified copy of this resolution along with specimen signatures of the aforementioned signatories be forwarded to the said Bank for their record.”

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